Moneygram Money Transfer Review

📝 Considering the feedback and high fees, is pretty clear why it’s not among one of the top-rated money transfer companies for August 2021. Moneygram is an old company with vast coverage, but we highly recommend this Moneygram recommended alternatives.
Logomoneygram logo
🏛️ Established1940
🌎 International Clients✓ Accepted
💱 Currencies Offered58 online, additional currencies may be available in shops.
💷 Minimum TransferNone. Moneygram is geared towards small remittances.
📲 Trading viaOnline or in branches worldwide (Bank to Cash / Cash to Cash).
🏢 Offices InHeadquarters in US, with subsidiary offices and certified agents literally across the globe.
⚖️ Regulation✓ Regulated by various American law Agencies, including the SEC. Also regulated by local authorities such as the FCA (UK).
🤯 Fees

Vary per transfer, depending on method of sending, currencies and amount. Based on World Bank statistics, the fixed fee can be as high as 19 Pounds for 120 Pound transfer to Ethiopia (source).

Additionally to the fixed fees taken by Moneygram, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred.

Promotional CodeNone
👨‍👩‍👧‍👦 Client Reviews580 on Consumer Affairs, 412 on TrustPilot, 116 on Yelp
⭐ Client RatingMoneygram has a rating of 1 star across all client review platforms.
👍 Advantages

Very Global, Very High Reach

Enables Cash pickup

Remitting Cash Since the 1940’s

👎 Disadvantages

Very Negative Client Reviews Across All Platforms

Relatively High Fees Based on World Bank statistics

View Alternatives:

Lebara competitors presented in the table below. You should consider the following alternatives before moving forward:

Best for Large or Repeating Transfers
UK EU Currencies Direct: Best Overall for International Money Transfers
1 Canada Square, Canary Wharf, London E14 5AA, UK
97.8% Editorial rating
3,000 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent
Why Them?
  • #1 Rating on MTC for the Past 2 Years
  • Global Leader in International Money Transfers - £10bn in Annual Turnover
  • No International Transfer Fees and Excellent Rates
+Read more
Best Online Money Transfer System
Australia UK EU USA New Zealand OFX: The Publicly-Traded Money Transfer Company from Down Under
Level 19, 60 Margaret St, Sydney, NSW 2000, Australia
90.4% Editorial rating
1,500 Client Reviews
Minimum transfer:
£100 / €100 / $100 or equivalent
Why Them?
  • Traded Publicly in Australia
  • Excellent Online System, Easy to Understand and Use
  • 24/7 Support
+Read more
Best for Remittances Below £1,000
EU UK USA Australia Wise (Previously TransferWise): Valued at £10bn
17 Avenue Marnix, 1000 Brussels, Belgium
86.8% Editorial rating
32,000 Client Reviews
Minimum transfer:
No Minimum
Why Them?
  • Largest Money Transfer Provider of its Kind
  • Fully-Online Journey
  • Transparent Pricing
+Read more
EU UK USA Australia One of the Hottest Money Transfer Startups
Colm House, 91 Pembroke Rd, Ballsbridge, Dublin, Ireland
86.8% Editorial rating
32,000 Client Reviews
Minimum transfer:
No Minimum
Why Them?
  • Very Low Margins, Down To 0.33%
  • Great Reputation And Client Reactions
  • Regulated By Central Bank Of Ireland
+Read more

If you want to transfer small amounts of money within the US, you should consider Lebara money transfer competitors like TransferWise and Xoom Money.

Read More:

Company Information and Credibility

Company size:  

Moneygram is a money transfer giant and has a substantial role in the history of money transfer.

The US-based business was founded in 1940 to deliver money orders. As its brand name expanded in the 80’s and 90’s, the problem of remittances became a real concern for the global economy, and there were very few competitors in the field (the biggest competitor that comes to mind is Western Union). Back in those pre-internet days, you had to have a local presence to handle anyone’s money, and Moneygram has managed to pull off that task successfully. Today, Moneygram has one of the most extensive global reach in the industry (together with WU), boasting 347,000 agents across the globe.

The company has suffered some downturns during its long history. The 2008 sub-prime crisis had hit it with a full impact crash to take its stock to oblivion, and a $100m fine for fraud a few years later hasn’t helped.


During 2017, Ant Financial  made an offer to buy Moneygram for a sum of $1.2bn. Ant Financial is a Chinese company owned by the Alibaba group (formerly named AliPay), and being that, considering the US-Chinese tensions in 2017, the deal was blocked by the U.S government. Ant Financial ended up buying indirect competitor WorldFirst.

In 2018, Moneygram announced it will be integrating Ripple into its payment system, which may be the way forward for this company. Ripple is the most payment-oriented cryptocurrency.

Regulated By: 

Almost any financial regulator across the globe, including the American SEC and the British FCA.


Moneygram are one of the biggest, strongest, and most resilient companies in the money transfer space, for good or worse. It has a fascinating history filled with glorious achievements alongside crashes and falls.

Client Feedback


There are thousands of Moneygram reviews across the web, and there are dozens of comments left by our visitors.

We focused on the largest and most recognisable user review platforms, and discovered client reviews as follows: 580 on Consumer Affairs, 412 on TrustPilot, 116 on Yelp .

The ratings were as follows:

  1. Consumer Affairs – 1 Star out of 5 Stars available. The lowest rating that can be achieved on the platform.
  2. TrustPilot – 0.5 Stars out of 5 Stars available. The lowest rating that can be achieved on this platform. 91% rated it “Bad” and 4% rated it “Poor”.
  3. Yelp – 1 Star out of 5 Stars available. The lowest rating that can be achieved on the platform.

In total, when aggregating all the client reviews altogether, it appears like most clients who left their review online were extremely dissatisfied with their experience.



We discovered few positive reviews on our research. Those we did find indicated the following positives with the company:

  • Good service
  • Inexpensive
  • Easy to transact

As there are hundreds of negative client reviews on the platforms that we have checked, there was negative feedback about many aspects, including:

  • Quality of service
  • Cost of transfer
  • Responsiveness of company / agent
  • Safety and Security
  • .. and many more…


Based on the research we have conducted, most Moneygram clients or at least the ones that have bothered to write an online review, are dissatisfied. The situation is similar to Western Union, the only company which is really comparable to Moneygram.

Some of the angst directed at Moneygram may be unjust. Perpetrators are using Moneygram’s service for money transfer scams but there is little the company can do on that regard. Additionally, some clients may have unrealistic expectations.

Since there were so many negative reviews collected, it is reasonable to believe that Moneygram could further improve the quality of service and rates.

Discover More Remittance Companies


Exchange Rate & Fees


We can say Moneygram shows good ethics by presenting a cost calculator on their website. It makes figuring out the exact costs easier than with other companies. The only companies on the market showing that type of feature at the moment are Transferwise, Currencyfair, Azimo and World Remit (from the ones we have reviewed to this point).

Fees & Exchange rates:

We have tested some of the most common currency exchanges on our website. Pound to Dollar, Euro, and AED. When transferring 1,000 Pounds from the UK the fees and exchange rate markup make up 5% or 10% of the transfer (in comparison to an industry average of approximately 1% for bank transfers, and under 2.5% for most destinations with cash transfers).

If you check for remittance countries like Romania, the World Bank claims Moneygram is as much as x6 time more expensive than Transferwise and x4 times more expensive than Azimo (Which provide the same bank to cash and cash to cash services, respectively).


Users may send up to $2,500 daily, using Moneygram’s online service. $9,999 is the limit for agent office transfers. $899 is the daily limit for Moneygram mobile app transfers.

These are the limitations for private clients, but we presume there are no limitations for its corporate clients.


If your aim is to save money, you should shop around and check alternatives, if they are available in your area. Moneygram has a lot more global reach than some of the relatively smaller competitors, so there might not be any cheaper alternatives; but based on the sampling we have conducted, there would cheaper alternatives when moving money from the UK, USA, the EU  Australia and New Zealand for most destinations.

Global Reach & Service


  • Dedicated Dealer: Moneygram does not offer dedicated dealers for private clients. The company’s business is remittances rather than small businesses or wealthy expatriates.
  • Offices: There are hundreds of thousands of agents spread across the globe.
  • Ways to approach: Online, via email, telephone or get to a branch/agent.
  • Translations: Yes, is translated to a multitude of languages.
  • Accepts clients: Worldwide.
  • Currencies Handled: 58 online, possibly more available on specific branches or with specific agents.
  • Client reviews: The reviews we have collected are generally very negative.


Moneygram is one of the most international companies out there. They have built a network of agents over 8 decades and have far more banking relations and understanding of the money transfer business than any of the newcomers.

The firm’s website is translated to multiple languages, and clients are accepted worldwide in the truest sense of the word, as many of their competitors claim to be global but have nowhere near this sort of reach.

As many of our readers are moving substantial amounts of money each month it should be noted that Moneygram is a remittances service. Its greatest advantages like accepting cash transfers and moving them, in cash, to locations like Africa, South Asia and Eastern Europe, are not applicable for readers who seek to move a hefty salary abroad or make a large purchase.

Additional Functionalities

For businesses: 

Moneygram has a Corporate website which enables small, medium and large businesses to conduct their foreign exchange affairs there. It is stated on the website that corporate clients can have access to spot contracts, forward contracts, limit orders and other hedging tools.


Moneygram has mobile apps for iPhone and Android devices. These applications provide all the functions of the website to mobile users. These apps are rated 3.7 / 5 on the Google store and an impressive 4.8  / 5 on the Apple Store.

Moneygram Review: Bottom Line

Moneygram has serious advantages in the form of very wide global reach and 80 years of reputation. The website is seamless to use, the rates and fees are clear and transparent and you can transfer money by debit card, bank transfer or in cash (through a branch).

On the downside, Moneygram’s online fees are worse than competitors, and you can send only up to $2,500 a day. As a whole, the company is not suitable for a large majority of our audience which is looking for larger sum transfers (like salary, mortgage payments or property purchases abroad).

We have left Moneygram’s rating as Pending simply because it is difficult to compare it quid pro quo with a lot of the other companies reviewed on this website.


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2 years ago

I used MoneyGram as I have done no less than 100 time before to send money internationally on the 15th of May 2019. Today, 4 days later, I was informed that the transfer had been cancelled by MoneyGram. I call to find out the reason since I suspected that they we accusing my of some international money transfer fraud. They refused to give me a reason and told me that in the future I would have to use another service. When I tried to log on to my MoneyGram account, it had been deleted. To make matters worse, they have… Read more »

Chemz Eddine
1 year ago

Mediocre customer service. Even after you have uploaded tons of documents on their website you need to call them and answer tons of questions. Sales reps speak Hindi and very bad English you have to spell everything. High fees. Horrible company to me. To be avoided

5 years ago

MoneyGram is a joke. I am a merchant and, for unknown reason, they asked me to remove their logo from my website and stop using their services, even that I gave them business over the years by receiving amounts of USD from my customers. Why would they cut a tree branch on which they are sitting? Naturally, since then I boycott MG.

Mary Nduku Thuo
5 years ago

Good Evening, You need to re-emburse me my money that has not been picked up by the receiver as intended in form of a cheque. I need to send you a copy of my British Passport for identification in order to obtain my refund. Therefore, advice me on on the safest way to do this. I sent this money in 2013 but I can not remember the name of my recepient because I sent money to many members of my family depending on need. But am sure you have got the details as expected. The Reference Number for this transaction… Read more »

5 years ago

Hello, I have 2 questions. A) last week I wanted to send 2500$ to my country in South America. This was a Monday. The next day I wanted to send to a different person the same amount. The lady at the agency (the same one who took care of me in Monday ) knowing of my transaction before asked me for my social security number. And I knew they only ask you for this document of the transfer was more that 3000$. Why she asked for my SS if this were 2 completely different transaction for 2 different persons .… Read more »

caroline thompson
5 years ago

I would like to know the problem that is happening in Trinidad with moneygram does it affect customers sending money from triidad to England in tt dollard. I would like to know

5 years ago

I would just like to no how many numbers r in the reference number given when u send money via moneygram as after reading the negative comments i want to make sure i get everything properly done before sending my money tomorow..

Stephen Ryan
4 years ago

ONE of their kiosks ate 2 one hundred dollar bills…My rent money for Mexico.

I borrowed money and sent it at a check cashing store. Wasted a whole day
1) because no one wants to fix the machine
2)rude rude rude from support to supervisorsee
3) they found the money the NEXT day
I had nearly 200 dollars in credits from my 8 years of use.


PATCH their exchange rates!!

R J Brewster
4 years ago

I have wasted a complete morning and half the afternoon trying to send £500 to my nephew in Spain. Four attempts later, the transaction has been declined again. The very first time I was told it was my bank was refusing payment. Not so. After going round in circles on the phone I was told to do another. I did. Refused again. And again later. I then spoke to their staff and was told it was a security question that needed answering, which I did and was told the payment had been cleared and received an email saying so. I… Read more »

4 years ago

Does money gram work with the bank rate of the country their in, when dealing with money gram transfer or are the agents allow to charge Black market fee per dollars as is happening in Trinidad and Tobago, where the bank rate is still $6 plus per 1us dollar while they charge $8 plus when exchanging TT for US on a money gram transfer to the US , what gives??????

4 years ago

MONEYGRAM Is a joke of a company, they are not customer friendly and very disappointed with the so called service. I sent my husband a transfer but forgot to add his middle name to it, he couldn’t pick up the money so asked if I can amend the transaction they said no so I asked for a refund they said it will take between 3-10days for my account to be credited, now I asked this is in emergency they said they can not help! What is the use of having an account for so long if the company can’t help… Read more »

4 years ago

I have never used this service prior to today. I called, asked how long it would take for the recipient to get the money. I was told ten minutes. It cost me almost $100 to send the money. I called the recipient to say it had been sent. It was crucial to get the money there right away. I explained to the person I dealt with on my end, who I was sending it to and why. Gave ID, names addresses, etc. 45 minutes later it was still not available to this person. I called the office, which by the… Read more »

Ruth Urieta
4 years ago

My sister sent money 2 weeks ago to Panama, several times the receiver went to pick up the money, and their answer is than they are out of money. I don’t understand whats going on, they dont even give you an excuse. How they can run out of money.. Very inefficient companies, they shouldn’t be open, is ridiculous.

4 years ago

I have used Moneygram services for the first time recently and have experienced a fraud. I’ve lost hundreds of pounds and after trying to report a fraud for 2 weeks I finally got a call from them where they basically just said you will not get a refund and go talk to police if you want because it’s not our problem. After reading more into the company it’s clear that this company doesn’t have the right security processes in place and they really don’t care about individual customers losing their money, as they get their own fee and leave you… Read more »

Mike Stidham
3 years ago

When attempting to wire money to a friend in Thailand on-line, I received an error message. Therefore, I called in and was told that I could not send money. When I inquired as to why, I was transferred to a supervisor who very rudely told me that Moneygram did no want my business, and that he was under no obligation to tell me why. Flabbergasted, I went on Western Union and was able to wire the money within minutes. I was mostly taken aback by the rudeness of the ‘supervisor’, and how dismissive he was in telling me that my… Read more »

3 years ago

A complete farce of a service. I needed to receive some money from my father. I spent hours going to five different MoneyGram agents: four of them the person responsible was on holiday or their connection with MoneyGram was not working! The fifth one made me fill in their forms, went through my ID and then said they could give me my money because the sender’s name was not spelled correctly on my form! As other reviewers all over the internet have said, MoneyGram and their network of mainly dodgy backstreet agents will use any and every excuse to NOT… Read more »

3 years ago

Our client from the US sent us money for payment of the tropical fish he purchased, around $2,000. MoneyGram stole the money! According to MoneyGram, the money was withdrawn from an affiliate branch of theirs here in the Philippines – we tried to ask for more information but they shut us down. They said that the sender needs to get the information from them so we asked our client to do so. All MoneyGram said was the person who claimed the money filled out a receive form and presented and ID and MoneyGram closed the case!! They are not responding… Read more »

2 years ago

I am currently now in Memphis. My sender sent money to the Philippines, Can I get the money here in Memphis? How many days that money stay in moneygram?

1 year ago

**In English & German / auf Deutsch unten** Please read it carefully before you embroiled in MoneyGram. I’ve transferred 1200.- EUR to my wife (within Germany), but when she tried to receive the amount, MoneyGram agent claimed that someone else has already received it. So that, I complained & escalated to MoneyGram that an unknown person has taken the amount. Unfortunately, their investigation was neither professional nor serious as it implemented something else. The outcome said that the one who received the amount gave them the name, transfer Reference number verbally & received the amount accordingly. How come they never… Read more »

8 months ago

PSA: Don’t use this company! Alternatives such as Western Union, PayPal – literally ANY other competitor will be better. They have “lost” my transaction. Customer service is non-existent; most of the representatives don’t know what they’re talking about and will send you on a wild goose chase to pickup locations – which their website isn’t correct about which locations offer their services. 90 days is an unacceptable amount of time to find out what is going on with an etransfer, let alone receive it. Any time you’re transferred to a manager, the call is conveniently dropped. My client paid $10… Read more »

7 months ago

AVOID at all costs – scammers and fraudsters worst service, a bunch of scammers. sent money through my card from their agent location in person, gave them all my ids, charged my bank for £2500 and then totally queit. chased them next day to hear that they want me to upload my id which i did and system confirmed id was uploaded successfully. checked in the evening to see the same message – additional information required. called them and uploaded id again – confirmed by the representative. also verified the identity of the receiver. done and dusted according to the… Read more »

3 years ago

I Went to money gram to wire x amount of money due to funeral overseas, the clerk processed transaction and said that funds will be available in 10 minutes, because of the time difference, a relative overseas went to the bank to receive the transfer next morning and was told by the money gram overseas that there was NO transfer. You need to realize that i had no idea that the money were Not transferred. The only way i found out because i called my relative overseas to find out if everything was going good with the funeral etc., –… Read more »